NSW: Key details for 2024 land tax year preparation for property purchasers

As a consequence of recent legislative changes, Revenue NSW has provided key details for 2024 land tax year preparation for property purchasers as follows:

Notice of assessments to be issued sooner

From 3 January 2024, the 2024 land tax notice of assessments will commence being issued.

Where property settlements are due in the first week of January, purchasers are able to request an early issue of the notice of assessment by logging into their MyServiceNSW account, entering the property settlement date and providing their email details to receive the 2024 notice of assessment sooner.

Clearance certificates
From 11 December 2023, purchasers are able to request a 2024 clearance certificate through the Revenue NSW Client Service Providers (CSPs).

As clearance certificates take up to 10 business days to issue from the date of request, purchasers should request a clearance certificate once settlement has been scheduled.

Principal place of residence (PPR) exemption

Eligible landowners that can claim the PPR exemption before 31 January 2024 and who own less than a 25% interest in the land are able to continue claiming the exemption for the 2024 – 2025 land tax years.

Landowners who buy property on or after 1 February 2024 who are not eligible for the exemption will pay land tax from 2025.

For more information, see the Revenue NSW website.

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